Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP is the strongest and the CHF is the weakest
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing a significant decline below 61.8%.
US Market View
U.S. stocks are seen opening marginally lower Wednesday, consolidating as a positive first half of the year comes to an end.
Britain’s economy shrank by more than expected in the first quarter of this year, as restrictions put in place to fight the Covid-19 pandemic closed many retail outlets.
Data from the Office for National Statistics showed GDP contracted by 1.6% in the January-March quarter, a bigger drop than the previous estimate of a 1.5% fall. This paled in comparison to the 20% slump in the second quarter of 2020 when Britain was in its first lockdown, as the successful vaccination program and companies ramping up their online presences limited the damage.
The ADP employment report is due, Didi starts trading in New York, crude pushes higher as OPEC members debate production increases while Wall Street awaits the end of a positive half year. Here's what's moving markets on Wednesday, June 30th. The ADP report may have a poor track record predicting the private payrolls count in the employment report, but it’s still seen as an important gauge. The consensus is looking for 600,000 additional private sector jobs, a slowdown from 978,000 jobs recorded last month. The U.S. is seeing transitory pressures around inflation, with risks on the upside, International Monetary Fund chief economist Gita Gopinath said on Wednesday.
President Joe Biden has nominated academic Amy Gutmann as U.S. ambassador to Germany, three sources said on Wednesday, as the two countries seek to rebuild relations that cooled under former President Donald Trump.Gutmann, 71, who would be the first woman to serve in the role and whose father fled Nazi Germany, is currently president of the University of Pennsylvania. Her nomination was handed to German President Frank-Walter Steinmeier in mid-June, one of the sources told Reuters. If confirmed by the U.S. Senate, Gutmann would replace interim appointee Robin Quinville.
USA Key Point
- Canada April GDP -0.3% vs -0.8% expected.
- May Canadian prelim GDP also -0.3%. Not bad for two months of heavy lockdowns.
- US June ADP employment +692K vs +600K expected.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.